TSS (NASDAQ:TSSI) Shares Gap Down - Here's What Happened

Key Points

• TSS Inc. shares experienced a significant drop, opening at $23.00 after closing at $28.75, and currently trading at $21.07.
• Wall Street Zen downgraded TSS shares from a "buy" to a "hold" rating on June 23rd, signaling reduced confidence among analysts.
• The company's recent earnings report showed a revenue of $43.97 million with earnings per share of $0.06, reflecting a net margin of 3.87%.

TSS Inc. (NASDAQ:TSSI - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $28.75, but opened at $23.00. TSS shares last traded at $21.07, with a volume of 2,692,297 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen lowered TSS from a "buy" rating to a "hold" rating in a research report on Monday, June 23rd.

TSS Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.56 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $471.13 million, a price-to-earnings ratio of 52.31 and a beta of 1.67. The company has a 50-day moving average of $24.27 and a 200-day moving average of $15.12.

TSS (NASDAQ:TSSI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $43.97 million for the quarter. TSS had a return on equity of 111.91% and a net margin of 3.43%.

Insider Activity

In other TSS news, SVP Kieran Brennan sold 5,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $13.50, for a total value of $67,500.00. Following the sale, the senior vice president directly owned 318,000 shares of the company's stock, valued at $4,293,000. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.94% of the company's stock.

Institutional Investors Weigh In On TSS

Several large investors have recently added to or reduced their stakes in TSSI. Palisades Investment Partners LLC acquired a new stake in TSS in the fourth quarter worth $2,997,000. Geode Capital Management LLC increased its position in TSS by 167.1% in the second quarter. Geode Capital Management LLC now owns 389,872 shares of the company's stock worth $11,242,000 after buying an additional 243,910 shares during the period. Value Aligned Research Advisors LLC acquired a new stake in TSS in the fourth quarter worth $2,231,000. Pacer Advisors Inc. acquired a new stake in TSS in the first quarter worth $1,087,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in TSS in the second quarter worth $3,483,000.

TSS Company Profile

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments.